Filing a regulatory complaint against an investment or securities company in Illinois empowers investors to address potential problems and protect their interests. Regulatory bodies like the Illinois Secretary of State’s Securities Department or the Financial Industry Regulatory Authority (FINRA) can investigate allegations of fraud and negligence.
Start by filing an official regulatory complaint detailing the problem and submit additional documents that support your allegations. Securities regulators act as the securities police for the enforcement of the securities laws. You should not expect financial recovery of your losses after filing a regulatory complaint, but it will let the securities regulators investigate the potential violation of securities laws. You must file a civil action either in court or in FINRA arbitration to seek financial recovery for investment losses you suffered as the result of the misconduct of your financial advisor.
Meyer Wilson has over 75 years of combined legal experience protecting investor rights. We have recovered more than $350 million for clients nationwide. Our Chicago investment fraud lawyers can file a claim against the negligent party on your behalf. Call us today for a free initial consultation.
When to File a Complaint Against an Investment Company
If you believe an investment company or its representative treated you unfairly, you could have grounds to file a complaint. Don’t waste any time; take immediate action if you suspect your financial advisor is committing fraud. By acting quickly, you increase the chances of securing a favorable outcome for your case.
Contact an experienced Illinois securities fraud attorney for help deciding whether to file a regulatory complaint. Your lawyer can help you file a regulatory complaint if appropriate and file a civil action to pursue the recovery of your losses.
Furthermore, if the investment firm breaches its contract with you, initiating a complaint may be necessary to pursue a resolution. Taking proactive steps can safeguard not only your interests but also those of fellow investors from potential harm.
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What Are Common Reasons for Filing a Complaint?
You can bring a complaint against a securities firm in Illinois under many circumstances. However, if you are uncertain about the validity of your claim, discuss your situation with an investment fraud attorney. Our team will assess your case and offer clear advice on the available course of action.
You could submit a complaint against an Illinois investment company for any of the following reasons:
- Unauthorized trading
- Providing false information
- Breach of fiduciary duty
- Failure to disclose risks associated with transactions
- Charging excessive fees
- Recommending unsuitable investments
- Failure to execute trades accurately
- Involvement in Ponzi schemes
- Failure to comply with securities laws
Identifying these negligent or fraudulent activities can sometimes be challenging. Stay vigilant and communicate any potential red flags with a skilled securities fraud attorney. We can help you build a strong case against the at-fault party. Early intervention is key in mitigating losses and protecting your investments.
How to Prepare for Filing a Complaint Against an Investment Firm in Illinois
How you react after discovering financial advisor negligence or fraud may impact your claim. To make sure you take the right steps to maximize the value of your claim, consult Meyer Wilson. If you call us right away, we can access fresh evidence before it is tempered with or gets lost.
Gather Evidence
Before you make official allegations of fraud or negligence, make sure your claims are backed up by strong evidence. If you get legal representation, your attorney can handle this task for you; share all relevant details about your case with your lawyer.
Important evidence for filing a complaint against an investment company includes:
- Transaction records
- Contracts
- Account statements
- Any correspondence with the company or your securities advisor
This type of evidence can help tell your story convincingly and paint a clear picture of the problem. An evidence-based complaint is more likely to reach a successful outcome. At our law firm, we have a long history of successful case results, so we know how to file a winning claim.
Hire an Investment Fraud Attorney
Navigating securities laws is difficult without professional legal representation. An investment fraud attorney from our team will explain how Illinois investment laws impact your case and review your options for recovering your losses.
If you choose to collaborate with us, we can gather and analyze a wide range of evidence to support your allegations. With our decades of experience in the field, you stand a better chance of securing the outcome you are hoping for.
Our lawyers are nationwide leaders in investment fraud cases.
Regulatory Bodies Overseeing Investment Companies in Illinois
In general, regulatory complaints are submitted to either state or federal regulatory agencies, depending on the problem in question and jurisdictional boundaries. When initiating a complaint, provide accurate details accompanied by documentation supporting your allegations.
Illinois Secretary of State’s Securities Department
This department enforces securities laws and regulations to safeguard investors and maintain market integrity. It also plays a vital role in licensing and regulating securities professionals and firms, ensuring compliance with applicable statutes. Additionally, the Securities Department investigates complaints of securities fraud, misconduct, and other violations.
Illinois Department of Financial and Professional Regulation
The Illinois Department of Financial and Professional Regulation (IDFPR) is a key regulatory agency responsible for overseeing various industries and professions.
Tasked with safeguarding consumers and ensuring the integrity of financial and professional services, the IDFPR administers licensing exams, issues permits, and enforces compliance with applicable laws and regulations.
Securities and Exchange Commission
The Securities and Exchange Commission (SEC) helps maintain fair and orderly markets, protects investors, and facilitates capital formation. It regulates various entities, including securities exchanges, broker-dealers, investment advisors, and mutual funds.
The SEC’s responsibilities encompass a broad spectrum, ranging from registering and overseeing securities offerings to enforcing compliance with disclosure requirements and combating securities fraud.
Financial Industry Regulatory Authority
As a non-governmental organization authorized by Congress, the Financial Industry Regulatory Authority (FINRA) operates under the oversight of the SEC.
Its primary mission is to protect investors by ensuring market integrity and promoting fair and ethical practices within the securities industry. FINRA creates and enforces rules governing securities firms and their registered representatives.
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Our Investment Fraud Attorneys Will Help You File a Complaint Against an Investment Firm in Illinois
If you suspect that an investment company has exploited your trust, seek guidance from an experienced securities fraud lawyer. Your legal representative can help you file regulatory complaints against wrongful investment practices.
At Meyer Wilson, we have a deep understanding of securities law and offer effective assistance to investors across Illinois. Contact us today to explore your available options.
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